(NewsDirect)
Ilika PLC CEO Graham Purdy joinedProactive's Stephen Gunnion with details of the company'sstrong first-half operating performance.
Purdy told Proactive the company began the financial year withthe shipment of its first stacked M300 miniature Stereax batteries,made in its UK facility. This milestone was quickly followed by alicensing deal with Cirtec, transferring key equipment to itsMassachusetts facility, paving the way for battery shipments in2024.
Additionally, thecompany's Goliath program, focusing on large-format solid-statebatteries, achieved a critical development milestone, supported by asubstantial grant from the Faraday Battery Challenge. Thecompany's financial health also saw notable improvement, with itguiding for revenue of £1.3 million and a significantly narrowerEBITDA loss, surpassing analysts' expectations.
Ending thehalf-year with £13.2 million in cash and equivalents, Purdyemphasised the company's effective fiscal management andtechnological advancements. Investors can anticipate an announcementregarding lithium-ion energy density parity, a significanttechnological milestone, confirming the effectiveness of Ilika'stechnology development program.
ContactDetails
Proactive UK Ltd
+44 20 7989 0813
Copyright (c) 2023 TheNewswire - All rights reserved.